Computer and electronics company Apple Inc. (NASDAQ:AAPL) has been upgraded by analysts at Oppenheimer to an outperform rating from perform. The firm set its price target on the stock at $115 a share, which represents a potential upside of 13% from its Wednesday closing price. Apple Inc. (NASDAQ:AAPL) is trading within a 52-week range of $68.33-103.74.
Takeover target Allergan, Inc. (NYSE:AGN) moved up by almost 4% recently in early trade Thursday after increasing its earnings guidance for Q3 2014. It also issued its profit targets for years 2015 and 2016. Allergan, Inc. (NYSE:AGN), the Botox maker said non-GAAP diluted EPS is expected to be between $1.76 and $1.78 for Q3, up from the previous range of between $1.44 and $1.47, as sales could jump more than 17% compared to last year. The Capital IQ consensus is for non-GAAP diluted EPS of $1.47 on sales of $1.7 billion. Non-GAAP diluted EPS for full year 2014, on the other hand, is projected to be between $6.20 and $6.25, with sales anticipated to increase between 14% and 15%. The average analyst estimate is for non-GAAP diluted EPS of $5.80 on sales of $7.1 billion. With these increases, 2015 and 2016 non-GAAP diluted EPS should come in at $8.60 and $10.25, respectively, the company added.
Lindsay Corporation (NYSE:LNN), a provider of irrigation systems and infrastructure products, Thursday posted fiscal Q4 results well above analysts’ expectations and said although expected conditions position U.S. irrigation markets lower, it also expects further improvements in sales and profits in the company’s infrastructure segment. For the quarter ended Aug. 31, Lindsay Corporation (NYSE:LNN) posted net earnings of $11.3 million, or $0.89 per share, up from $10.4 million, or $0.81 per share, in the prior-year period. Analysts polled by Capital IQ had predicted a profit of $0.58 per share.
Operating revenue slipped to $147.5 million from $148.4 million a year earlier, but surpassed analysts’ mean estimate of $125.4 million. Gross margin was 27.1% of sales, up from 26.0% of sales in the prior year’s Q4. “Incremental sales resulting from spring and summer storms in the U.S. Midwest softened the negative impact of the decline in commodity prices in the quarter,” said CEO Rick Parod. “It is too early to predict the effect the lower commodity prices and projected reductions in farm income will have in fiscal 2015, however the expected conditions position the U.S. irrigation markets lower, while we expect further improvements in sales and profits in our infrastructure segment.” He added: “Longer term, drivers for the company’s markets of population growth, expanded food production and efficient water use, and infrastructure upgrades and expansion support our expectation for growth.”